Pricing Your Home Gets Trickier
March 5, 2007
No seller wants to leave money on the table by underpricing a property. Contrary to some opinions, no real estate agent wants to undersell properties. Yes, we are hired to market and sell . We spend dollars advertising and open houses showing, but knowing that you and the seller found the price point that will generate a sale creates more enthusiasm I don't believe any seller wishes to spruce up his property, allow strangers to come through and critique the decor and not sell the property. Testing the market with a higher than recommended listing price is not a winning strategy in today's real estate marketplace!
With more and more exposure of listings on the internet sites, the buying prospect of today can be educated as to what size, location and amenities can be purchased at a particualr price. As a seller, it is important to know that your property is competitive. Really understanding the competitive market analysis that a listing agent presents to you is a first step. Taking the time to visit your competition is definitely worth the time. Looking through the eyes of a buyer will let you know what fix-ups could be beneficial and what a competitive price should be.
Condition and marketing are important, but bottom line has always been and except for the"irrationnal exuberance" of the past 3 years, it is still the important ingredient for a successful sale.
No seller wants to leave money on the table by underpricing a property. Contrary to some opinions, no real estate agent wants to undersell properties. Yes, we are hired to market and sell . We spend dollars advertising and open houses showing, but knowing that you and the seller found the price point that will generate a sale creates more enthusiasm I don't believe any seller wishes to spruce up his property, allow strangers to come through and critique the decor and not sell the property. Testing the market with a higher than recommended listing price is not a winning strategy in today's real estate marketplace!
With more and more exposure of listings on the internet sites, the buying prospect of today can be educated as to what size, location and amenities can be purchased at a particualr price. As a seller, it is important to know that your property is competitive. Really understanding the competitive market analysis that a listing agent presents to you is a first step. Taking the time to visit your competition is definitely worth the time. Looking through the eyes of a buyer will let you know what fix-ups could be beneficial and what a competitive price should be.
Condition and marketing are important, but bottom line has always been and except for the"irrationnal exuberance" of the past 3 years, it is still the important ingredient for a successful sale.
posted by shirley harry at 8:08 AM
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